The Plymouth Small Business Fund was set up in 1994 and has been successful in helping small businesses within the Plymouth City boundary, and especially in encouraging job creation in the inner city areas.

The funding has come from Plymouth City Council, Plymouth Development Corporation, Plymouth Task Force, The Single Regeneration Budget Challenge Fund and The European Regional Development Fund. It is administered by Enterprise Plymouth Ltd.

There are a range of grants and low interest loans available for eligible businesses. Examples of these are:

Grants
Product Development
Market Research/ Test Marketing
Business Start-up Expenses (excluding equipment)
Short Term Rent Assistance
Exhibition Attendance
Crime Prevention in specific geographical locations

Loans
Start-up Businesses
Existing Businesses
Expansion/Development
Capital Equipment
Business Relocation

(These are not exhaustive lists)

Assistance is available to businesses employing less than 25 within the City boundary. Special targets have been set to help:

			Start-up Businesses
			Existing Businesses

The first stage is to contact one of the Small Business Fund Officers at Enterprise Plymouth Limited to arrange an initial interview. The application process will be explained in detail and your business idea will be discussed. If required the Business Development Officer will assist in the preparation of a business plan.

We can support you if necessary in negotiations with your Bank before helping you to finalise your application. Small Business Fund loans, at attractive rates of interest, should be matched by clients where possible with Bank funding.

When the process is complete, the Small Business Fund Team will present your application to the monthly Assessment Panel. The Panel is made up of the Funding Partners plus a representative of one of the major Banks and will decide whether or not to award a loan or grant.

The Panel's decision is final and applicants will be notified as soon as possible after the meeting.

The Small Business Fund Team will work closely with the successful applicants and jointly monitor the development of the business, providing continuing business advice, information and support, for the duration of the loan.

The Business Plan is an important part of the application. It should contain a complete description of the business and its proposals.

It must explain who will run the business, what the business does (or will do), where it is located, who will buy the products and services and why.

In addition, details of the initial expenditure, running costs and anticipated income will be an essential part of the Business Plan.

The following is a list of the sections to be included:

Summary of the Business
The summary should briefly describe the business, its history to date and highlight the key objectives. Include certified accounts of previous trading figures if available.

Management
Who is involved in the management? (CVs must be included). How is the business organised? What are the strengths of the management team?

Product or Service
Describe it in layman's terms! What is your unique selling point? How does it compare with competitive products?

The Market
Who are your customers? How can you justify the demand for the product? N Who are your competitors? How will your business differ from theirs?

Marketing How will the product be advertised and promoted? Give details of distribution/selling methods. Explain your pricing policy. What are your sales forecasts for the next 12 months and how have you reached those forecasts?

Operations
Details of premises must be included together with a copy of your lease/tenancy agreement if applicable. List the equipment the business has together with its residual value. Describe the production process if appropriate. What are the personal requirements of the business?

Financial Information
1. Give start up or expansion costs and budget information.
2. Include historical statements if already trading.
3. Costing and pricing information.
4. Financial forecasts including cashflow and profit & loss projections.
5. Explain all your assumptions.

Financing Requirements
Give details of how much is needed, when and who from. Specify your contribution and any other grants/loans that have been applied for or approved.